Midnight Sun Mining (CVE:MMA) Stock Price Up 5.1% - What's Next?

Key Points

• The stock price of Midnight Sun Mining Corp. rose by 5.1%, trading at C$0.62 during mid-day trading, following a previous close of C$0.59.
• Director Allan John Fabbro purchased 175,000 shares at an average price of C$0.60 per share, indicating insider confidence in the company.
• Midnight Sun Mining focuses on the acquisition and exploration of mineral properties in Africa, primarily seeking copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - Get Free Report)'s stock price shot up 5.1% on Thursday . The company traded as high as C$0.64 and last traded at C$0.62. 111,180 shares changed hands during trading, a decline of 58% from the average session volume of 265,808 shares. The stock had previously closed at C$0.59.

Midnight Sun Mining Price Performance

The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The stock's 50-day simple moving average is C$0.58 and its two-hundred day simple moving average is C$0.62. The company has a market capitalization of C$104.56 million, a price-to-earnings ratio of -40.85 and a beta of 0.93.

Insiders Place Their Bets

In related news, Director Allan John Fabbro acquired 175,000 shares of Midnight Sun Mining stock in a transaction on Tuesday, May 13th. The stock was bought at an average cost of C$0.60 per share, for a total transaction of C$105,000.00. Corporate insiders own 5.98% of the company's stock.

About Midnight Sun Mining

Midnight Sun Mining Corp. engages in the acquisition and exploration of mineral properties in Africa. The company primarily explores for copper, cobalt, nickel, and gold deposits. It owns a 60% interest in the Solwezi licenses located in Zambia. The company was formerly known as Midnight Sun Capital Corporation and changed its name to Midnight Sun Mining Corp.